News – Page 533
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More M&A expected for life insurers
Mergers and acquisitions between life insurers will significantly increase over the next 12 months, according to a Tillinghast survey
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AIR names Simic managing director
AIR Worldwide has appointed Dr Milan Simic as managing director from Benfield's ReMetrics Hazards team
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AIG to sue Catlin
AIG is to sue Catlin for allegedly poaching key employees from two US offices
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MMC to accelerate $500m buyback
Marsh & McLennan will repurchase $500m worth of MMC shares in an accelerated share repurchase transaction
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Management promotions at Markel
Michael James and Gareth Buxtonhave both been promoted by Markel...
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Novae syndicate on review for possible upgrade
Moody's has placed the “A3”ratings of Lloyd's syndicate 2007 - Novae Syndicates - on review for possible upgrade
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Allstate to cease writing California property at mid-year
Allstate will stop offering new homeowners policies in California, but is offering a solution through a third party insurer
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AIR collaboration to improve China quake model
AIR will work with the China Earthquake Administration to gain a better understanding of pre-historic earthquakes
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Strong first quarter for newly public Flagstone
Despite revealing a strong first quarter following its IPO, Flagstone was hit by Windstorm Kyrill and satellite losses
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Gallagher buying spree continues
Gallagher has announced the acquisition of retail insurance broker Tropp & Company
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Converium CEO and CFO to resign by end of year
Converium CEO Inga Beale and CFO Paolo De Martin are to resign
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S&P: German insurers face industry change
German insurers industrywide have benefited from a benign market environment but change is ahead
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Munich Re and UniCredit expand joint venture
Munich Re, ERGO Insurance Group and Italian UniCredit have agreed to extend the existing cooperation in Europe
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Endurance boosts buyback to 18 million shares
Endurance Specialty Holdings has announced an approved increase in the number of ordinary shares authorised for repurchase
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SCOR outlines “friendly agreement” with Converium
Converium will withdraw its litigation against SCOR in the US as part of the agreed terms and conditions between the two companies
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KPMG reveals reservations over principles-based regulation
Insurers are concerned that the FSA will struggle to engage consistently, according to KPMG
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SCOR ratings unaffected by Converium bid
S&P's ratings on SCOR are unaffected by new Converium bid
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AWAC grows net income by 16%
Allied World Assurance Company has reported net income of $113.9m for Q1 2007
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Carvill joins forces with AIR
Carvill has announced an agreement with AIR to provide modelled support for the Carvill Hurricane Index
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PXRE woes continue with $7.2m Q1 loss
PXRE Group has announced a net loss before convertible preferred share dividends of $7.2m for Q1 2007
